Mr. Mark Ferguson reports

DUNBAR METALS ANNOUNCES DEBENTURE FINANCING

Dunbar Metals Corp. will conduct a non-brokered private placement of convertible debentures in the principal amount of up to $500,000. The debentures will be issued for an initial term of 36 months and will bear interest at a rate of 12 per cent per annum payable on maturity. Each debenture will be convertible into units of the company, at the option of the holder, at a rate of one conversion unit for every 15 cents of outstanding indebtedness. Each conversion unit will consist of one common share of the company and one common share purchase warrant exercisable at a price of 15 cents for a period of 36 months following closing of the offering.

The proceeds of the offering will be utilized by the company for general working capital purposes.

In connection with completion of the offering, the company may pay finders' fees to eligible third parties which have introduced subscribers to the company. All securities issued in connection with the offering will be subject to a statutory hold period for four months and one day in accordance with applicable securities laws. Completion of the offering remains subject to receipt of regulatory approvals.

The company has received an initial expression of interest in the offering from a strategic investor. As a condition to participation in the offering, the investor has requested that the company arrange for the cancellation of an aggregate of 19.05 million common share purchase warrants currently exercisable at a price of 10 cents. The company intends to seek the consent of the holders of the warrants to the cancellation to be completed immediately upon closing of the offering.

About Dunbar Metals Corp.

Dunbar is engaged in the acquisition and exploration of mineral properties in Canada. The company currently holds a 100-per-cent interest in mineral claims totalling approximately 7,000 hectares comprising the Gorilla Lake property, located in Northern Saskatchewan, Canada, subject to a royalty obligation. The phase 1 exploration program at the property consists of geological mapping, prospecting and geochemical sampling based on the anomalies identified by the company's Heli-TEM survey and integration with other available data sets. The company's secondary objective is to locate and develop other economic precious and base metal properties of merit.

We seek Safe Harbor.